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Originally posted by xuenchen
Fuzzy Math?: CNBC Describes New Unemployment Numbers as 'Contradictory'
This is puzzling
But the government said the total number of workers employed surged by 873,000, the highest one-month jump in 29 years. The total of unemployed people tumbled by 456,000.
Originally posted by Em2013
Unemployment rate is calculated by how many people ask for handouts by tax payers every month, not how many people is actually out of work. Many economists view that the actual unemployment rate based off of an enormous amount of variables is closer to 18-22%. That's just unemployment... In fact, I've known a few people who couldn't get unemployment because they have reached their cap. I don't remember where I've read this before but it seems pretty common to find online.
Unemployment isn't the only system that people collect money from, there's so much more like Social Security, working for the government etc etc... So the total amount that tax payers pay into all of this is ridiculously high which is why we spend more than we earn. I really wish I had all of the facts here, it would be amazing to know it all for sure